Raymond James Financial Inc., the brokerage that acquired Morgan Keegan & Co. from Regions Financial Corp. last year, posted a quarterly profit that rose 41 percent on a one-time tax benefit.
Raymond James Financial Inc. dismissed more than 200 employees as the wealth-management firm completed its acquisition of Morgan Keegan & Co., according to Chief Executive Officer Paul Reilly.
Bank of New York Mellon Corp. filed a court petition seeking approval of an $8.5 billion settlement with Bank of America Corp. over residential mortgage- securitization trusts.
Industrial production jumped in November by the most in two years as U.S. manufacturers began to rebound from the damage inflicted by superstorm Sandy.
Stand-alone U.S. brokerages hurt by 2011’s trading slump may struggle to raise capital or obtain adequate loans unless markets improve, adding to closures that imperiled more than 200 Wall Street jobs last month.
Spending by U.S. consumers and businesses probably accelerated in November, a signal the economy is speeding up at the end of the year, economists forecast before reports this week.
The U.K.’s patent system is “broken,” a group of small and medium-sized businesses said in a letter to Prime Minister David Cameron.
Fewer workers than forecast filed claims for unemployment benefits last week, pointing to a drop in firings that signals the U.S. job market is improving.
Industrial production in the U.S. increased more than forecast in November and consumer prices slowed, indicating the recovery is gaining momentum without generating inflation.
Manufacturing in the Philadelphia region expanded in December at the fastest pace since April 2005 as orders and the factory workweek increased.
"Results this quarter were lifted by a beneficial tax rate and better-than-expected results in capital markets and Raymond James Bank."
- Paul Reilly on Oct 23, 2013
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